3,123 Shares in Paycom Software, Inc. $PAYC Bought by State of Wyoming

State of Wyoming purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 3,123 shares of the software maker’s stock, valued at approximately $392,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CYBER HORNET ETFs LLC acquired a new position in shares of Paycom Software in the 2nd quarter valued at $29,000. MUFG Securities EMEA plc acquired a new stake in shares of Paycom Software during the 2nd quarter valued at about $33,000. Brown Brothers Harriman & Co. increased its stake in Paycom Software by 190.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock valued at $25,000 after acquiring an additional 101 shares during the period. Palisade Asset Management LLC bought a new stake in Paycom Software in the third quarter valued at about $33,000. Finally, Clearstead Advisors LLC raised its position in Paycom Software by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock worth $26,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the subject of a number of analyst reports. UBS Group raised their price target on shares of Paycom Software from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. BMO Capital Markets raised their target price on Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. TD Cowen boosted their price target on Paycom Software from $149.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, BTIG Research upped their price target on Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $204.69.

Paycom Software Stock Performance

NYSE:PAYC opened at $215.92 on Wednesday. The stock has a market capitalization of $9.73 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 1.23 and a beta of 0.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $234.60. The firm has a 50 day moving average of $155.12 and a 200-day moving average of $137.96.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The business had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same period in the prior year, the company earned $2.06 EPS. Paycom Software’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 10.48 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software’s payout ratio is currently 15.94%.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.